Spar: Feeling the pain in the middle class squeeze
The middle class is where the squeeze happens. Woolworths doesn’t feel this pain, but Spar certainly does
The attraction of grocery retail is simple: people need to eat. A lucky few eat Norwegian salmon, most eat more mundane fare … but everyone needs to eat.
The lower end of the market can be defensive, as government grants act as the underpin that keeps the shops busy. The upper end of the market has more than enough money for luxury foods, so businesses such as Woolworths and Checkers still do well in a tougher economy...